Fast, friendly service – as a member of Vermilion Credit Union, your loan request will receive fast, efficient and professional attention

New vehicle loans can be amortized to 84 months.

New RVs can be amortized to 15 years.

Overdraft Protection

A specific overdraft protection on regular chequing accounts which prevents cheques being returned because of insufficient funds

Avoids NSF charges

Interest is calculated on the daily closing balance and is charged at month end.

Available upon credit approval.

Expected to revolve monthly from a members regular payroll deposit

Student Choice

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StudentChoice financial package is a combination of a loan product packaged together with a broad array of financial services which includes a no charge chequing account with a discounted service fee plan that can be accessed using a Member Card debit card. The chequing account is called, Student Solutions.

To qualify, the student or legal guardian must be a Vermilion Credit Union member for a minimum of 6 months from date of application.

The applicant must be enrolled in at least 60% of the course load in a recognized (post-secondary) college, university or technical school. Member must provide a confirmation of enrollment.

All normal credit criteria must be complied with.

If the applicant has no or insufficient income to support this obligation, then a guarantor (preferably legal guardian) must be obtained and provide the eligible criteria to qualify.

Terms:

Maximum annual disbursement amount of $10,000 to a maximum of $60,000

(6 years). Minimum multiple disbursement of $500 per month. In addition to the above funding, the member will be eligible to establish an Authorized Overdraft, and a MasterCard™ to a maximum combined authorization of $2,500. These credit facilities will be considered on an unsecured basis to the student. Repayment of interest only, monthly payments while the student is enrolled in full-time studies. Interest only payments will cease 6 months after the student graduates, leaves school or the enrollment is less that 60% of normal course load (considered grace period). After the grace period, the member is required to make monthly payments toward principal and interest. The following repayment schedule will be established: